Considered a “hidden gem” amongst the numerous tourist attractions and locales dotting the coastline of the state of California, the city of Torrance provides both locals and business owners with a degree of peace and serenity that may be harder to find in other, more densely populated areas of the state. Widely considered to be one of the safest communities in Los Angeles County at large, Torrance is ideal for business owners seeking rental properties for lease, such as office space for rent and commercial space for rent, that are less expensive than those found in more densely populated regions of the county. The various neighborhood zones of Torrance provides entrepreneurs with the opportunity to develop rewarding connections with locals and professional colleagues in one of the most appealing cities in the region at large.
Economically speaking, Torrance is most well known as the US headquarters of Honda, one of the world’s most popular and prominent automobile manufacturers. A number of large, multinational employers have helped to fortify the local economy and ensure that median household income levels remain healthy. Other notable employers in Torrance include Robinson Helicopter Co., Exxon Mobil Refinery, Allied Signal Aerospace, and others. According to recent surveys, the median household income level in Torrance is approximately $77,000. It is estimated that nearly 7.4% of the local population currently lives below the federal poverty line.
Although the origins and development of Torrance proceeded somewhat slowly in the opening years of the 20th century, the city experienced substantial growth following the culmination of the Second World War. The various war-related industries and enterprises located here quickly transformed their operations to focus on civilian and government-led aerospace projects, many of which resulted in substantial economic growth for the city. Although Torrance’s population remained largely homogeneous up until the closing decades of the 20th century, a large number of international migrants, many of them Asian, have slowly transformed the cultural fabric of the area at large.
Depending upon the specific nature of the business in question, various areas of Torrance may be more suited to commercial or industrial development. For those invested in consumer-driven pursuits, such as retail shops and other commercial products, the downtown area of Torrance is most likely to offer maximum possible visibility. In 2006, a new open-air shopping center was created in Torrance which now hosts many of the city’s consumer-grade retail operations.